Date Requested:February 16, 2013
Time Requested:10:07 AM
Agency: State Tax & Revenue Department
CBD Number: Version: Bill Number: Resolution Number:
2013R1463 Introduced HB2302
CBD Subject: LONG-TERM CARE FACILITIES
FUND(S)
General Revenue Fund
Sources of Revenue
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

     The stated purpose of this bill is to provide a personal income tax modification for retirees who are in long-term care facilities who also receive retirement or investment income.
    
     As written, we are unable to estimate the loss to the General Revenue Fund from the passage of this bill. The bill is very broad in nature and provides no definitions of retirement or investment income.
    
     Additional administrative costs to the State Tax Department would be minimal.
    
Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")		 2014
Increase/Decrease
(use"-")		 Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
     The stated purpose of this bill is to provide a personal income tax modification for retirees who are in long-term care facilities who also receive retirement or investment income.
    
     As written, we are unable to estimate the loss to the General Revenue Fund from the passage of this bill. The bill is very broad in nature and provides no definitions of retirement or investment income.
    
     Additional administrative costs to the State Tax Department would be minimal.
    

Memorandum
Person submitting Fiscal Note:
Mark B. Muchow
Email Address:
Roger.D.Cox@wv.gov
     The stated purpose of this bill is to provide a personal income tax modification for retirees who are in long-term care facilities who also receive retirement or investment income.
    
     This bill does not provide a definition of “retirement income” or “investment income”, nor is there a definition or statement of what qualifies as a “long-term care facility”. Also, there is no effective date for the tax year when the use of the reducing modification may commence.